Wynn Resorts, Limited (WYNN) Given Average Recommendation of “Buy” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has earned an average rating of “Buy” from the twenty-four research firms that are presently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $152.05.

WYNN has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Wynn Resorts, Limited from $134.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. TheStreet downgraded Wynn Resorts, Limited from a “b-” rating to a “c+” rating in a research note on Friday, October 13th. Zacks Investment Research lowered Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Telsey Advisory Group boosted their target price on Wynn Resorts, Limited from $157.00 to $160.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Finally, Vetr raised Wynn Resorts, Limited from a “buy” rating to a “strong-buy” rating and set a $146.26 target price on the stock in a research report on Thursday, July 27th.

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In related news, Director Alvin V. Shoemaker sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $151.74, for a total transaction of $2,276,100.00. Following the transaction, the director now directly owns 19,162 shares of the company’s stock, valued at $2,907,641.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Matt Maddox sold 59,260 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $155.12, for a total value of $9,192,411.20. The disclosure for this sale can be found here. Insiders have sold 159,406 shares of company stock worth $23,864,344 over the last three months. 13.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. JPMorgan Chase & Co. grew its stake in Wynn Resorts, Limited by 128.1% in the second quarter. JPMorgan Chase & Co. now owns 819,007 shares of the casino operator’s stock valued at $109,845,000 after purchasing an additional 459,916 shares in the last quarter. Janus Henderson Group PLC grew its stake in Wynn Resorts, Limited by 563.7% in the third quarter. Janus Henderson Group PLC now owns 507,249 shares of the casino operator’s stock valued at $75,540,000 after purchasing an additional 430,816 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Wynn Resorts, Limited by 529.8% in the third quarter. Point72 Asset Management L.P. now owns 418,843 shares of the casino operator’s stock valued at $62,374,000 after purchasing an additional 352,343 shares in the last quarter. Maverick Capital Ltd. grew its stake in Wynn Resorts, Limited by 36.9% in the second quarter. Maverick Capital Ltd. now owns 1,260,248 shares of the casino operator’s stock valued at $169,024,000 after purchasing an additional 339,550 shares in the last quarter. Finally, FMR LLC grew its stake in Wynn Resorts, Limited by 294.1% in the second quarter. FMR LLC now owns 409,967 shares of the casino operator’s stock valued at $54,985,000 after purchasing an additional 305,945 shares in the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.

Shares of Wynn Resorts, Limited (NASDAQ WYNN) opened at $158.69 on Friday. Wynn Resorts, Limited has a 12 month low of $85.57 and a 12 month high of $159.55. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. The company has a market capitalization of $16,298.22, a price-to-earnings ratio of 35.71 and a beta of 1.72.

Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, October 26th. The casino operator reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.24. Wynn Resorts, Limited had a return on equity of 132.96% and a net margin of 6.24%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. research analysts forecast that Wynn Resorts, Limited will post 5.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Thursday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, November 15th. Wynn Resorts, Limited’s payout ratio is 55.25%.

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Wynn Resorts, Limited Company Profile

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.